In the recent award ceremony held by the Asian Banker Magazine, Bank of China was honored with "RMB Business Clearing Award in Asia-Pacific Region" and "Trade Finance Award in China".
As the most internationalized bank in China, Bank of China's business in supporting enterprises "go global" and serving customers home and abroad is growing rapidly in recent years. In 2010, Bank of China availed itself the opportunity of the expanding pilot scope for cross-border trade settlement in RMB and successfully processed the initial business in all pilot regions in China, with the RMB clearing network covering the world. At present, the bank has opened 352 cross-border RMB clearing accounts, keeping business contact with more than 1,600 foreign banks' headquarters and their affiliates. Maintaining the leading position in the market in both amount of foreign correspondent banks and cross-border RMB clearing accounts, Bank of China's deposit banks have spread in more than 40 countries and regions all over the world.
Dedicated to becoming the best trade finance service bank in the world, Bank of China completed the international settlement over USD 1.97 trillion in 2010, top of the global banking industry. The balance of foreign trade finance for domestic enterprises and that of guarantees in foreign currency also maintained the leading market share, reaching USD 47.502 billion and USD 56.221 billion respectively. The business volume of its two-factor export factoring was USD 2.415 billion, ranking first in the world.
Aiming to provide professional services for readers in Asia and Middle East, the Asian Banker Magazine started the publication in 1996 and has strong influence in the finance industry.
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